JPMorgan has plans to invest about RMB 2.7 billion ($409.7 million) in China Merchants Bank’s wholly owned wealth management subsidiary, according to an exchange filing the bank published Friday, reported Caixin. After the investment, JPMorgan will hold a 10% stake in CMB Wealth Management, while the Shanghai- and Hong Kong-listed bank will retain 90%. The deal is subject […]
Category: Banking & Finance
China’s central bank governor has warned that climate change poses new challenges to financial stability and monetary policy, and that the potential risks to credit, markets and liquidity must be properly assessed and tackled, reported Caixin. The massive amount of green investment needed to achieve China’s goal of reaching peak emissions in 2030 and carbon […]
China and the US held their first high-level talks of the Biden administration this week in Alaska, and appropriately for the location, the atmosphere was frosty. US National Security Advisor Jake Sullivan kicked off by saying: “We do not seek conflict, but we welcome stiff competition, and we will always stand up for our principles, […]
HSBC suffered no risk of loss as a result of alleged deceptions by Meng Wanzhou, her lawyer told a Canadian court on Monday, as the Huawei Technologies chief financial officer’s two-year battle against extradition to the United States entered a critical stage, reported the South China Morning Post. But a Canadian government lawyer representing US […]
Troubled Sichuan Trust has been fined RMB 34.9 million ($5.4 million) — marking one of the biggest fines ever levied against a Chinese trust company — for conducting quasi-shadow banking businesses and issuing illicit loans, a provincial banking regulator said, reported Caixin. China has put the once free-wheeling $3 trillion trust industry under closer oversight as regulators have […]